City of La Porte Annual Budget 1995-1996

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For fiscal year 1995-96, the City expects to collect $7.6 million through the ad valorem tax process. The graph below portrays the actual collections for the last four fiscal years, estimated collections for fiscal year 1994-95 and projected collections for 1995-96. Ad Valorem Tax Collections Six Year Comparison MIllion. 8 10-1' 1,..82 82-13 13-84 84-11 85-88 ~ ColI.ollon. Another major revenue source that Is derived through the taxation process is the collection of In Lieu of Tax payments from companies located in the City's two industrial zones. A description of the in lieu of tax agreements can be found In the "Description of City and Economic Background" section beginning on page 1-14. The City expects to collect $6.0 million from this revenue source. . Sales Taxes are generated when goods are sold in the City. The State of Texas is the collecting agency for these taxes and submits to the City the portion the City is due. The current sales tax rate in our jurisdiction is 7.25% which is comprised of 6.25% for the State and 1 % for the City. The City estimates the amount it expects to receive from sales taxes based on historical trends. The City expects to collect $1.45 million from this revenue source. The final major revenue source that is derived through taxation is the levying of Franchise Fees to Utilities operating In the City of La Porte. The amount of the levy is governed by State Law. The City expects to receive $1,247,000 from this revenue source in fiscal year 1995-96. Resources Derived Through Charges for Services The City provides many services to its Citizens. Some are required for the basic health and well being of the individual (water, sewer and sanitation) while others improve the quality of life (wave pool and golf course). The total projection for Charges for Services revenues in Fiscal year 1995-96 is $8.9 million. Listed below are major sources of revenues received from services rendered. Service Rendered Projected 95-96 Resources Water Production & Distribution Sewer Collection & Treatment Residential Solid Waste Collection Commercial Solid Waste Collection Golf Course Fees $ 2,719,200 2,839,000 745,000 600,000 1,087,900 Other Resources Another major resource for the City of La Porte is the earning of interest on investments. The City expects to earn $982 thousand on its idle funds during fiscal year 1995-96. The projection of this resource is based on cash flow analysis and a conservative interest earnings amount. 1-4 I I. I I I I I I I I I I I I I I I I I